Security National Bank Lowers Holdings in Deere & Company (NYSE:DE)

Security National Bank cut its holdings in Deere & Company (NYSE:DE) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,209 shares of the industrial products company’s stock after selling 103 shares during the period. Security National Bank’s holdings in Deere & Company were worth $4,604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dark Forest Capital Management LP purchased a new stake in shares of Deere & Company during the 3rd quarter worth approximately $922,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Deere & Company by 10.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,042 shares of the industrial products company’s stock worth $2,280,000 after acquiring an additional 552 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Deere & Company by 0.6% during the 3rd quarter. Federated Hermes Inc. now owns 19,210 shares of the industrial products company’s stock worth $7,249,000 after acquiring an additional 124 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Deere & Company by 3.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,993 shares of the industrial products company’s stock worth $1,507,000 after acquiring an additional 130 shares in the last quarter. Finally, Consolidated Portfolio Review Corp acquired a new position in shares of Deere & Company during the 3rd quarter worth approximately $250,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DE shares. Citigroup started coverage on Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 price objective for the company. TD Cowen boosted their price target on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Stifel Nicolaus boosted their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Daiwa Capital Markets boosted their price target on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus target price of $431.14.

Deere & Company Stock Performance

NYSE DE traded up $3.69 during midday trading on Wednesday, hitting $373.16. The company had a trading volume of 852,559 shares, compared to its average volume of 1,462,064. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The stock has a market cap of $102.83 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.48 and a beta of 0.98. The firm has a fifty day simple moving average of $386.75 and a two-hundred day simple moving average of $387.08. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period in the previous year, the business earned $9.65 EPS. The firm’s revenue was down 15.4% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.